I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Joined: Aug 13, 2005 Posts: 269 Location: Sydney, Australia.
Posted: Wed Apr 26, 2006 7:09 pm Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
It will be $1.50 next week probably, which will put diesel to $1.70, which is bad for inflation as the cost of the "3000 mile salad" goes up. They were saying August is when they wanted to adjust interest rates, might be next week the way things are going.
Code:
He said Melbourne's outer suburbs, which are heavily car reliant, would become "financially unviable" unless car dependence was reduced.
gee, where have I seen that idea before, hmmm, maybe it was in "The End of Suburbia" . You would almost think they aren't telling us the full story.
Posted: Wed Apr 26, 2006 8:02 pm Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
The high price of gasoline says to consumers, "Don't buy me." Nobody wants to listen. People are worried.
In the USA the high price says the same thing, and what is the government response? Cut down on government demand to refill the strategic reserve, and probe the oil companies for price gouging. The US public does not want to listen any more than the Ausie public. Everyone wants to hear that this is just the result of big business screwing the little guy.
Sometime, reality is just too big a meal to digest. Pass the Rolaids.
Joined: Oct 23, 2005 Posts: 1840 Location: East of Eden
Posted: Wed Apr 26, 2006 8:34 pm Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
Gego, that's a cool illustration. Is that yours? _________________ "If a path to the better there be, it begins with a full look at the worst." — Thomas Hardy
Posted: Wed Apr 26, 2006 9:05 pm Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
It's hard to read the real sarcasm in some of these posts, but we all know gasoline/petrol isn't a normal good. It is like electricity to Westerners, just we have to manually fill our cars up instead of it happening automatically. It is a significant part of the quality of our lives. We will never go with less unless the QOL doesn't decrease with it. The QOL attached to oil is quite amazing, it would be a significant chunk of the economy taking 50-100 years of 2-3% growth to get back to same levels (meaning once it's gone and then if society doesn't collapse it will be like a 70-90% drop of the economic output instantly).
The day when the realization comes that it truly won't be there for you anymore is going to be a bad one (or good if you're like me). _________________ Bringing sexy back..... to doom
Joined: Oct 23, 2005 Posts: 1840 Location: East of Eden
Posted: Wed Apr 26, 2006 11:12 pm Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
gego wrote:
coyote wrote:
Gego, that's a cool illustration. Is that yours?
I only post the crap that comes out of my head. I am no plagerist. Thanks.
Or did you mean the avitar. That was done by my wife in pen and ink a few years ago. She does very nice work, but the scan did not do it justice.
Yeah I meant the avatar illustration. I like it. I do some illustration work myself. Your wife is talented. _________________ "If a path to the better there be, it begins with a full look at the worst." — Thomas Hardy
Joined: Apr 19, 2006 Posts: 199 Location: Australia
Posted: Thu Apr 27, 2006 3:10 am Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
I came to Australia nearly 2.5 years ago. I remember petrol was around 70c a litre back then. Now, it has just doubled . Housing market is dead. Houses stay 6 months advertised, in average, until being sold, if they ever are. I was planning to buy something this year, but I guess I will wait a bit longer. Probably interest will rise again this year because inflation in already at 3% p.a. and the housing market will suffer even more.
At least I do not see that many SUVs on the streets here and public transportation is not so bad, IMHO.
Posted: Thu Apr 27, 2006 3:45 am Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
BrazilianPO wrote:
I came to Australia nearly 2.5 years ago. I remember petrol was around 70c a litre back then. Now, it has just doubled . Housing market is dead. Houses stay 6 months advertised, in average, until being sold, if they ever are. I was planning to buy something this year, but I guess I will wait a bit longer. Probably interest will rise again this year because inflation in already at 3% p.a. and the housing market will suffer even more.
At least I do not see that many SUVs on the streets here and public transportation is not so bad, IMHO.
Huh? I see quite alot of 4WD's on the roads these days. Must be a Sydney thing. Lots of vans and small trucks also.
Joined: Apr 19, 2006 Posts: 199 Location: Australia
Posted: Thu Apr 27, 2006 4:02 am Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
peaker_2005 wrote:
BrazilianPO wrote:
I came to Australia nearly 2.5 years ago. I remember petrol was around 70c a litre back then. Now, it has just doubled . Housing market is dead. Houses stay 6 months advertised, in average, until being sold, if they ever are. I was planning to buy something this year, but I guess I will wait a bit longer. Probably interest will rise again this year because inflation in already at 3% p.a. and the housing market will suffer even more.
At least I do not see that many SUVs on the streets here and public transportation is not so bad, IMHO.
Huh? I see quite alot of 4WD's on the roads these days. Must be a Sydney thing. Lots of vans and small trucks also.
I live in Newcastle and see some SUVs, of course. But I believe they are between 5 and 10% of the cars circulating. However, if you count other large cars, like the Holden Commodores and other V6s, the fraction goes up a bit. But still, I think Australians have a good tendency towards conservation and most cars here (in Newcastle) are still compact and medium-sized models, not those 2.5 and 3.0L models. I have a Hyundai Excel, 1.5L, very economic, average of 14km/l (around 34mpg).
Posted: Thu Apr 27, 2006 4:31 am Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
I live in Belgium and prices are set to rise tomorrow.
Petrol then will cost € 1,43/liter for ron95 - € 1,46/liter for ron98.
Diesel fuel already went up this week and stands at € 1,03/liter currently.
Strangest thing over here regarding cars, most people overhere drive medium-sized vehicles, with relative small directly injected turbodiesel engines, but despite these high fuel prices and the elevated environmental tax which you pay upon it, SUV's are literally taking off here, it has become a symbol of wealth driving a BMW X5 3.0diesel. Especially by business owners, since they can tamper with their taxes and IRS forms easily. It's what we call "foefelen" _________________ Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.
Anyway, guess which peakoil.com poster that happens to be a former PTUA committee member got the PTUA committee familiar with the peak oil message and onto the bandwagon over the last few years (albeit around the same time I burned myself out and gave up on community work)? *cough*
Posted: Thu Apr 27, 2006 9:01 am Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
I have alot of respect for Costello, the Australian teasurer. Under his leadership, the governement budget is allways in surplus, they really are quite tight with the tax money. They want to protect the currency from inflation as Costello said, if there are any inflationary signs from businesses increasing prices, he will push to have the interest rates increase. Although it's pretty stupid what he said that buinesses should absorb the cost and not raise prices, but sooner or later they will raise prices and then interest rates will rise, but might give australia an extra month staying at 5.5%. Compared to the USA which seems to want nothing more than to debase it's currency, I feel every safe and secure. The Australian looks very promising now to invest into.
In Sydney around the North Shore area, the roads are full of SUV's/4x4. You know the typical person, wears a suit, works in a office pushing pens, drives around talking on the mobile phone. The roads are overflowing with them where I live.
Anyway, BrazilianPO, I like dead housing markets, I hated saving money 5 years ago to afford a house and see prices increase faster than what I could save, I still don't own property and have given up thinking of purchasing a property anymore, been investing in Gold instead. _________________
Man's like a candle in a candlestick,
Made up of tallow and a little wick;
Posted: Thu Apr 27, 2006 9:19 am Post subject: Re: Petrol to $1.45 in OZ, pressure on interest rates
Dukat_Reloaded wrote:
I have alot of respect for Costello, the Australian teasurer....snip
Right, you have respect for a tool who helped screw us into the ground like all the other politicians of our time. Good work. _________________ Bringing sexy back..... to doom
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. You would almost think they aren't telling us the full story. 
. Housing market is dead. Houses stay 6 months advertised, in average, until being sold, if they ever are. I was planning to buy something this year, but I guess I will wait a bit longer. Probably interest will rise again this year because inflation in already at 3% p.a. and the housing market will suffer even more.
